COMMERCIAL ITEMS.

Dominion, Volume 4, Issue 1117, 3 May 1911, Page 8

COMMERCIAL ITEMS.

INVESTMENT SHAKES. The business done yesterday comprised a sale of Wellington Steam Ferry, IBs. paid, at Us., and Taupiri Coal at 21s. ex dividend. The buying and selling quotations were as under:— Buyers. Sellers. £ s. d. £ s. d National-Bank — 6 10 National Mortgago 3 7 0 — N.Z. Loan and Mercantile — 0 11 0 Well. Investment 0 11 3 - Gisborne Gas 3 2 6 — N.Z. Insurance 4 5 0 — Stando.nl Insurance 19 3 — Meat Export (525. 6d.) ' — 3 7 0 Well. Steam Ferry (185.)... 0 11 0 - Well. Woollen (ord.) — 4 2 0 Well. Woollen (pref.) 3 0 0 3 2 0 Wcetport Coal — 19 0 Leyland-O'Brien 16 6 — Manning and Co 4 8 0 — Miramar, Limited — 0 2 6 N.Z Drug 2 9 0 - Sharland's preference ... 1 4 6 ' — Taranoki Petroleum — 014 0 Taringamutu Totara 2 8 6 2 10 0 Ward aud Co 5 0 0 5 2 6 BANK OF AUSTRALASIA. Tho profit 3 of tho Bank of Australasia, for tho six months ended October 10, 1910, amounted to-£198.531, compared with £133.723 in tho preceding half-year, and with £177,665 in October, 19C9. With tho balance brought into the accounts there is the sura of £213,725 available, of which £50,C00 is placed to reserve fund, raising it to £1,810,000, and £20,000 ia appropriated to writing down the premises account. Although the profits are no longer swollen by recoveries of debts considered doubtful, and for which provision had, hcen made, they show an increase of 12 per cent, on the corresponding period of 1909. With tho exception of advances, every department of tho bnsincs3 shows expansion in comparison with twelve months ago.' Deposits arc up £681,858, note circulation is £76.577 larger, and bills payable are £535.924 higher, making a- total increase of £1,294,419 in liabilities to the public. Lir/uid assets are larger by £1,497,540, of which over £900,000 is in coin bullion and cash balances. Advances on the other hand have diminished by £51,226. CAUSE OF THE FAILURE. According to tho "Daily Mail" "tho events which led up to tho meetiug were thut on March 13 Messrs. Scriven Bros, .and Co., who had advanced money to tho debtor on tho security of goods paid to bo Etored at tho Phoenix Wharf, applied to the wharf for delivery. They wero told that the goods could not be sent because tho delivery order? had bcon cancelled. They immediately took steps to enforce their security, and t!ie following day Mr. Justice Bucknill granted on interim junction to restrain tho wharf from parting with any of the goods specified. In the meantime other claimants for goods said to bo stored at the wharf applied for inliverv, and in two .cases succeeded in obtaining them. When the summons camo on for hroring before Mr. Justice Darling, it was alleged th.it some of the goods collected by thcFC firms really belonged to narrnls Mrmarkcd for Messrs. Scriven. Mr. IT. TV. Freshwater was appointed receiver of nil goods at the wharf pending 'an inI vestigation.

Customs duties collected at the port of Wellington yesterday amounted to £'1594 6s. sd. TIIADE IN ALLEX STIiEET. Vcgctables.-At yesterday's sales cabbages advanced, aud to-day's value is is. to 7s. per sack; clioico cauliflowers range from 7s. to 95.; French beans have again advanced, and are now quoted at 6s. to Es. per half-sack; pumpkins continue at Is. 6d. to ss. 6d., with marrows in better demand at os. to 4s. per sack. Carrots and parsnips arc in good demand at 4s. to 55., choice lettuces are selling at ss. to Cs., and good r.t 2s. to '!s. Beetroot is m good demand at 3s. to 4s. per sack. Fruit—ltesular shipments of pears and apples continue to come forward almost daily from the llotueka. district, and some really fins samples avo now being mar; ketctl. "Winter Cole" and '■Winter Wallis pears of choice qunlity are realising 12s. to Ks. per case; choice coloured dessert apples ranije from 7s. to 9a. per case. Tomatoes of prime quality are bnne;mpc <!s. to ss. per halt-case. South Australian lemons are in excellent demand at 13s. to Ks. per case, whilst Island oranges tiro selling at 7s. to Is. fcl. per ensc. The whole of the shipment of mandarines from Fiji had to bo vet-hipped to Sydney on account of the certificates not beinß in order. Bunches of bananas ex Kama realised ss. Cd. to 4s. 6d. per bunch. Potatoes.—A good demand exists for prime finality, at £5 5?. to £5 155., whilst blighted and motUy descriptions are sellin!: at £3 to £4 per ton.' Onions are unchanged in value. Both New Zealand and Victoria-grown are now on the market. Chaff.—Fair shipment? are comins? to hand, and prime samples are selling at. £5 ss. to £5 10s. per ton, sacks in. Strawchaff is selling at £3 10s. per ton. Mniiio is in excellent demand at 33. 3d. per bushel. Pollard.—The usual winter demand is now bniner experienced, the current value being £7 per ton. TCran con lines nt HOs. f.n.b. south. Butter.—PHme bulk is in excellent demand at IM. per lb. Egir.*.— Ovins to the hi"h price' now rul*n<? f.liß dotmiui for fresh ptcts has cased. WflH-known brands nro. selli" , ; at 2s. per dozen and preserved at Is. <d. FROZEN MEAT. (Br Telegraph.—Pre== Association.l Christchurch, May 2. The BritisVN'ew Zonbrul jrc.it Company has received th» following London cableeram:—Mnttin Prin<» Canterbury. 3W. to 33d.: North Ts!nnd. 23d. to 3d.: Canterbury hir.b, 4W.: If«rth If'nnd, 3Jd. to 4cl. BeefHinds, 3'd.; fores, 2£d. THE METAL MARKETS. By Telegraph—l , res; Association—Copyright (Ecc. Slay 2, 10.20 p.m.) London, May 2. Copper supplies total 38,529 tons; deliveries, 42,723 tons; stocks, 78.C68 tons;, afloat, 7SCO tons. Tin-Stocks. 14,696 tons; on spot, 4962 tons; afloat, 2811 tons; deliveries, 2465 tons. TALLOW. By Teleeraoh—Press (Rcc. May 2, 10.20 p.m.) London, May 2. The- tallow stocks on hand amount to 4059 tons; imports, 2557 tons; deliveries, 4068 tons. NATIONAL INSURANCE COMPANY. (By Telegraph—Press Association-) Ouncdin, May 2. . The directors of the National Insurance Company have declared an interim dividend of 9d. per share, payable on Slay 15. GEAIN AND PRODUCE. (By TelcEraph.—Prcss Association.) Christchurcii, May 2. The freight on the Home steamers for. wheat having been reduced from 20s. to 15a. per ton, - there is a belter tono in the wheat market, though •at the same timo there is no improvement on the offers from London for Now Zealand wheat. Farmers are, however, holding firmly, and but few sales have lately been made. The highest price reported for wheat for shipping is 3s. Id, but pearl alone- would probably command rather more. There is no change in oats, and- at the price ruling for . chaiT shippers cannot compete with Marlboroiifh in the North Island markets. The nominal quotation is BCs.. but it is stated that for loca! consumption, 355. a:: trucks is, however, really worth more in the country districts on account of the shortage of food, and consequently there are few sellers for shipping or town ns-o. The demand for potatoes is not Quite so active, though the price 755. at ctationp, remains unchanged. The North Island is not purchasing very freely, as plentiful supplies are expected from Southland. PROPERTY SALES. By to-day's mail wo arc in receipt of a. copy of tho "Resistor and Property Investors' Guide," the monthly publication of Messrs. Harcourt and Co., issued in the interests of their business, and containing particulars of all properties placed with them for sale, station properties, farms, businesses, city investments,, residential properties and sites, and suburban areas all find a. place in its columns. It.comprises sixteen pages, the' second pago being devoted to a. report on the sharo and financial market generally, with quotations of the current prices for the leading investment and mining stocks. Messrs. Harcourt and Co. advertise free in tho "Register" all properties placed with them for disposal, and report recent sales of the following farms, which have been made by them:—4o-acro dairy farm and stock at Eketahmia: 50-acre dniry farm at Okato, Taranaki; 16-acro Email farm in tho Manaivatu; IPO-acre dairv and agricultural farm in tho Jlanawatu; 351-nere sheep and dairy farm at Tamil. Tamnaki; 240-ncro sheep farm at Stratford; 20-ncre small farm at New Plymouth; lease of 97-acre dairy fa™ at Eketahuna; freehold of 97-acro dairy farm at Newman: 86 acres, L.1.P., with stock, at Danrcevirlie: also, fish buriiwm in Wellington; gener.il store in tho Waik.ito; confectionery business at Waverley. They renort a good demand for nil classes of nnreerties. and have n. number of buyers in h.ind for city residential and business premises.

KOTUKU OIL.

A POLICY OP DEVELOPMENT. We are informed that tho Kotuku Oilfields Syndicate, acting on the report of Dr. Vanner, Professor of Geology in tho University of Bonn, Germany, has imported to New Zealand the largest drill for oil-bor-ing that has' yet bean made, and the machinery has been delivered at Grcymouth. "Two expert operators from Galicia, who are accustomed to drilling some of the deepest wells in tho world, came out on the Rotorua, for the rmruoEO of operating the new plant, and left for Grcymouth by the Mapourika last night. It is stated that, should the new drill strike oil in commercial quantities, a refining plant will be immediately erected in tho vicinity of Grey mouth. Tho Government haa granted the syndicate prospecting rights